EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2024

NOTE 24 - EARNINGS PER SHARE

Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period. Net income available to common stockholders represents net income less preferred stock dividends and issuance costs associated with preferred stock redeemed. Diluted EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period, inclusive of potential dilutive shares such as share-based payment awards and warrants using the treasury stock method.


	Year Ended December 31,
(dollars in millions, except per share data)	2024	2023	2022
Numerator (basic and diluted):
Net income	$1,509	$1,608	$2,073
Less: Preferred stock dividends	137	117	113

Net income available to common stockholders	$1,372	$1,491	$1,960
Denominator:
Weighted-average common shares outstanding - basic	450,678,038	475,089,384	475,959,815
Dilutive common shares: share-based awards	2,832,207	1,603,764	1,843,327
Weighted-average common shares outstanding - diluted	453,510,245	476,693,148	477,803,142
Earnings per common share:
Basic	$3.05	$3.14	$4.12
Diluted(1)	3.03	3.13	4.10

(1) Potential dilutive common shares are excluded from the computation of diluted EPS in the periods where the effect would be antidilutive. Excluded from the computation of diluted EPS were weighted-average antidilutive shares totaling 330,950, 2,210,857 and 949,606 for the years ended December 31, 2024, 2023 and 2022, respectively.